Property

Our office manages the University’s Property Insurance Program, which includes the administration of property claims. The University property policy covers losses and some purchases, including remediation and restoration to restore damaged areas to pre-claim condition. Property losses include damage to University buildings, some contents, university owned or leased art inventory, university owned equipment (insurance can be added for some leased equipment with an agreement) and University owned ATVs. Coverage for these losses is for repair or replacement. Our main objective is to administer covered losses effectively, to help return the University back to the condition of where it was before the loss.

Each loss is different and will be assessed based on its merits and the specifics of the loss in accordance with set guidelines and the terms and conditions of the University's insurance policies through the State of Louisiana Self Insurance fund, administered by Sedgwick. In order to best assist in the University’s recovery from a loss, departments must cooperate and thoroughly document all aspects of the loss to ensure that timely, adequate and accurate information is available to our office for loss adjustment activities.

After a loss follow the Initial Loss Guidance.

For a claim to be filed, please keep in mind the process which must be followed:

1. Report the damages to our office immediately, using the claim reporting form.

• If damages include water/flood to the interior of the building, facilities management must be notified immediately, so restoration services can be emobilized. 
• Claims exceeding $7,500 in damage, require insurance review, in which a field adjuster will evaluate and appaise the damages.

2. Department to layout a plan of action for repairs or replacement.

3. Department to submit all associated expenses (including supportive documentation).

4. Claim submission to insurance. (can be less, but usually180 days from the date of loss)

5. Reimbursement obtained from insurance.

6. Funds recovered are returned to department account. (usually 30-45 days after claim submission)